SEATTLE (AP) _ Avalara Inc. (AVLR) on Tuesday reported a loss of $12.4 million in its third quarter.
On a per-share basis, the Seattle-based company said it had a loss of 16 cents. Losses, adjusted for stock option expense and amortization costs, were 1 cent per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The provider of cloud-based software services posted revenue of $98.5 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $93.1 million.
For the current quarter ending in December, Avalara said it expects revenue in the range of $99.5 million to $100.5 million.
The company expects full-year revenue in the range of $374.3 million to $375.3 million.
Avalara shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $70.33, more than doubling in the last 12 months.